Russia set to import North Asian jet fuel amid fuel crisis, sources say
Russia's Jet Fuel Import Strategy and Ongoing Fuel Crisis
Background and Recent Developments
SINGAPORE, July 3 (Reuters) - Russia is poised to import a jet fuel cargo originating from Japan via traders, said three sources briefed on the matter, as the country contends with a fuel crisis after Ukrainian attacks on its energy infrastructure.
Details of the Jet Fuel Shipment
Logistics and Route
At least 200,000 barrels of jet fuel are expected to load from Chiba, Japan, in the first half of July and be shipped to South Korea first, said two of the sources, with several traders involved in the deal chain.
The cargo is then expected to be loaded on another tanker — probably by ship-to-ship transfer off South Korea's Yeosu port — before heading to Russia, they added. Its final destination was not immediately clear.
Confidentiality and Official Responses
The sources declined to be named because they are not authorised to speak to the media.
The Russian energy ministry did not respond to a request for comment. South Korea's Industry Ministry declined to comment, while Japan's Ministry of Economy, Trade and Industry did not respond immediately to requests for comment.
Historical Context and Impact
Previous Imports
A previous such shipment by Russia appears to have been for 22,000 barrels of jet fuel from Yeosu in South Korea in February 2022, Kpler ship-tracking data showed. The cargo was delivered to the Far East region of Vladivostok.
Effects of the Fuel Crisis
Domestic Disruptions
The fuel crisis sparked by Ukraine's drone attacks on Russian oil refineries and depots is disrupting Russians' daily life, with Moscow imposing restrictions on fuel purchases while farmers have warned that they might be unable to harvest crops.
Export Decline
Russian jet fuel exports have fallen to about 13,000 barrels per day this year, mostly to Turkey, Kpler data showed. Russia exported about 30,000 bpd of the fuel last year.
(Reporting by Asia Energy DeskAdditional reporting by Seoul bureauEditing by Florence Tan and David Goodman)
